PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1084879
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1084879
Predictive analytics is the practice of obtaining crucial information from existing data sets, in order to ascertain certain patterns and predict future outcomes and trends. In transportation, predictive analytics and simulation software is used to determine traffic patterns and predict future outcomes and trends concerned with transportation. Predictive analytics has been largely used in transportation sector, where it provides valuable insights from data collected from numerous sources. These sources include vehicle location system, on-board sensors and data collection points embedded in fare and ticketing system, and scheduling and asset management system. This software provides various results to the transportation sector such as predictive maintenance, traffic optimization, network & capacity optimization, revenue optimization, and customer behavior. This software finds applications in different components of transport including railways, roadways, seaways, and airways as it can offer cost-saving operations for these components.
Growing popularity of IoT among consumers has increased the number of connected vehicles in the recent past significantly. OEMs are launching premium as well as mid-range cars with pre-installed sensors such as OBD-II, vehicle tracking, black box among others. These sensors enable automated driving capabilities, vehicle data tracking, and vehicle to safety pertaining to engine diagnostics and vehicle usage. Furthermore, connected cars can generate information related to traffic flow and density in real-time. This data can be obtained using transportation predictive analytics and simulation software, which facilitates better analysis of traffic flow. Moreover, now a days this data is used by insurance company to determine the driving pattern of the customers and to provide them a usage based insurance (UBI). Predictive analytics and simulation software for transportation offer cost-saving operations. Freight carriers in transportation sector require constant maintenance, which is the major reason behind increase in costs. Transpiration predictive analytics and simulation software provides predictive maintenance for vehicles by collecting data from sensors installed in vehicles and ascertaining which components are most likely to require immediate attention. Owing all these benefits the demand for transportation predictive analysis and simulation software is increasing globally.
This report segments the global transportation predictive analysis and simulation market on the basis of component, simulation method, development model and component of transport. On the basis of component, the global transportation predictive analysis and simulation market is segmented into software and services. On the basis of simulation method, the market is segmented into microscopic, macroscopic, and mesoscopic. On the basis of development model, the market is segmented into on-premise, and cloud-based. On the basis of component of transport, the market is segmented into roadways, railways, airways and seaways.